Copper HIGHLIGHTS CANADIAN PRODUCTION SUMMARY. Maureen Coulas

Transcription

1 Copper Maureen Coulas The author is with the Minerals and Metals Sector Natural Resources Canada. Telephone: RECENT WORLD COPPER DATA / /07 (% change) Mine production Primary refined production Secondary refined production Total refined production Usage (consumption) Refined balance (1) n.a. n.a. Refined stocks at year-end (2) Source: International Copper Study Group May 2009 bulletin... Not available; n.a. Not applicable. (1) Surplus or deficit is calculated using total refined production minus refined usage. (2) Includes producer, consumer, government, exchange, and merchant stocks. LME COPPER PRICES (000 tonnes) Cash US /lb Cash US$/t months US$/t months US$/t months US$/t Source: Bloomsbury Minerals Economics Ltd. RECENT CANADIAN COPPER DATA (tonnes) Mine output (1) Primary production (2) Reported mine production (3) Refined production Domestic shipments Refined imports Apparent usage (4) Refined exports Source: Natural Resources Canada (NRCan). (p) Preliminary. (1) Metal content in concentrates produced based on NRCan surveys. (2) Recoverable metal in concentrates shipped based on NRCan surveys. (3) Reported copper mine production is taken from company reports and is a mixture of copper in concentrates produced and payable copper in concentrates, depending upon the company. (4) Usage = domestic shipments + refined imports. Note: NRCan data are rounded to the nearest 100 t, except for reported copper mine production, which is rounded to the nearest 1000 t. HIGHLIGHTS In 2008, four Canadian copper-producing mines closed (Langlois, Lac des Iles, Copper Rand, and Fabie Bay), one new mine opened (Perseverence), and two mines completed major expansions (Gibraltar and Minto). Strike action and processing problems in 2008 reduced Canadian refined copper output to t, compared to t in A surge in Chinese imports in 2009 has abated a declining price trend in the second half of Prices reached a high of US$4.03/lb and ended the year at US$1.32/lb. The International Copper Study Group forecasts a surplus of refined copper in 2009 and Copper is the third-ranking metal produced and used in the world, behind aluminum and steel. Total refined copper production in 2008 was reported at 18.3 Mt. Of this amount, 15%, or 2.7 Mt, was produced from recycled sources (see also the Recent World Copper Data table on this page). Copper prices rallied during the first half of 2008 and then declined steadily in the second half in response to weak demand and the onset of the global financial crisis. The daily London Metal Exchange (LME) cash settlement price reached a high of US$4.03/lb on April 10 and a low of US$1.26/lb on December 24. Despite the steep downward trend in prices during the second half of the year, the 2008 LME cash settlement price for copper of US$3.16/lb (US$6995/t) was only 2% lower than the 2007 average of US$3.23/lb. CANADIAN PRODUCTION SUMMARY The locations of Canadian mines and metallurgical operations that produced copper in 2008 can be viewed by using Natural Resources Canada s Interactive Maps tool at aspx. Mined copper production data for each mine in Canada that produced copper for 2006, 2007, and 2008 are detailed in the table on p

2 16.2 CANADIAN MINERALS YEARBOOK, 2008

3 COPPER 16.3 CANADIAN MINES PRODUCING COPPER IN CONCENTRATE, Name of Mine Operator (tonnes) Brunswick Noranda Inc Copper Rand (includes Joe Mann) Campbell Resources Inc Duck Pond Aur Resources Inc Gibraltar (McLeese Lake) Taseko Mines Limited Gibraltar SX/EW Taseko Mines Limited Greenwood gold mine Merit Mining Corp. 400 Fabie Bay First Metals Inc Highland Valley Teck Cominco Huckleberry Imperial Metals Corp Hudson Bay 777 HudBay Minerals Inc Hudson Bay Trout Lake HudBay Minerals Inc Lac des Iles North Amercian Palladium Ltd Kemess South Northgate Exploration Limited Kidd Creek Xstrata plc Montcalm Xstrata plc Mouska Iamgold 300 Langlois Breakwater Resources LaRonde Agnico-Eagle Minto Capstone Mining Corp Mount Polley Imperial Metals Corp Myra Falls Breakwater Resources Perserverance Xstrata plc Raglan Xstrata plc Clarabelle mill output (1) Vale Inco Sudbury Division Strathcona mill output Xstrata plc Troilus Inmet Mining Voisey's Bay Vale Inco Total Source: Author's calculations based on company reports. Nil. (1) In 2008, included output from the Copper Cliff, Creighton, Stobie, Garson, McCreedy/East Coleman, and Gertrude mines, plus three mines owned by FNX Mining Company Inc. Mined copper output of t in 2008 represented a 1.8% increase over 2007 output of t as increased production from new mines and expansions outpaced declines following suspensions at some operations in the latter part of the year. A breakdown of mine production by province and territory is shown in Table 1 at the end of this chapter. The provincial breakdown indicates that, year on year, mined copper output increased in Newfoundland and Labrador (10%), Quebec (53%), and the Yukon (605%), and declined in New Brunswick (16%), Manitoba (7%), Ontario (3%), and British Columbia (11%). Increases in copper output from Voisey s Bay, Minto, Troilus, and Mount Polley, and the start-up of the Perseverance mine, were offset by declines at Kemess South, Highland Valley, Huckleberry, Myra Falls, and Xstrata s Sudbury Division, and by suspensions at several smaller producers. Details on significant developments at individual operations are discussed in the Canadian Developments section. Based on data reported to Natural Resources Canada via monthly surveys, 2008 refined copper production totaled t, compared with t in Output at the CCR refinery was 8% higher in 2008, but output at the Kidd Creek refinery declined by 32% due to strike action and an extended maintenance shut-down (see Canadian Developments section). The refined copper data also include cathodes produced at Taseko Mining s SX/EW 1 plant and at Vale Inco s Sudbury operations SX/EW plant. CANADIAN DEVELOPMENTS In April, Vale announced a series of measures at its Canadian operations in response to low nickel prices. These included an indefinite shut-down of the Copper Cliff south mine as of January 2009 and a one-month shut-down of the Voisey s Bay mine in July. Despite the extended shutdown, mined copper from Voisey s Bay increased by 24% to t in Solvent extraction/electrowinning (SX/EW) is a two-stage process that first extracts and upgrades copper ions from lowgrade leach solutions into a concentrated electrolyte, and then deposits pure copper onto cathodes using an electrolytic procedure.

4 16.4 CANADIAN MINERALS YEARBOOK, 2008 Refined copper production at the Kidd Creek metallurgical facility declined significantly in 2008 as the result of an unplanned three-week outage to reduce dependence on marginal offshore concentrate feed in addition to a scheduled maintenance shut-down, as well as a 36-day strike. These outages contributed to a 32% reduction in cathode output in 2008 compared to HudBay Minerals Inc. reported copper anode production of t from its Flin Flon copper smelter, compared to t in HudBay decided early in 2008 to operate the copper smelter at a reduced rate and forego processing third-party concentrates, which the company said it could not secure at economic terms. Third-party concentrate typically supplies about 40% of the smelters annual feed requirements. Other factors cited in the decision to reduce concentrate throughput were the need to meet new sulphur dioxide (SO 2 ) emissions targets under the Canadian Environmental Protection Act (CEPA) and the need to create a window to process a stockpile of t of spent anode from the company s copper refinery in White Pine, Michigan. During a teleconference with analysts in early 2009, HudBay stated that a filtration plant and concentrate load-out facility was being installed at the copper facility, which would allow HudBay the flexibility to close the smelter should it make business sense to do so and to send copper concentrate produced at HudBay s Manitoba mines offshore if necessary. In October, Breakwater Resources Limited announced a suspension of operations at the Langlois mine in Quebec and a scaling back of operations at the Myra Falls mine in British Columbia. Declining commodity prices and the deteriorating economic outlook generally were cited as reasons for the cutbacks. In October, North American Palladium Ltd. announced that it would temporarily place its Lac des Iles mine on care and maintenance due to declining metal prices. The Lac des Iles mine, located near Thunder Bay, Ontario, produces palladium and by-product nickel, copper, gold, and platinum. Its output in 2008 was 2097 t of copper in concentrate. Poor metal prices and tight credit markets also led to a decision by Campbell Resources Inc. to suspend operations at the Copper Rand mine near Chibougamau, Quebec, at the end of December. Operating problems and declining metal prices also resulted in the suspension of operations at the Fabie Bay mine near Rouyn-Noranda, Quebec, owned by First Metals Inc., and at Merit Mining Corporation s Greenwood Gold operation in British Columbia. Production at Xstrata plc s Perseverance zinc-copper mine located near Matagami, Quebec, commenced on July 1. The mine is expected to produce about 8750 t of copper in concentrate over five years. In its 2008 Annual Report, Xstrata plc stated that the volume of recycled feeds processed at the Horne smelter in 2008 increased by 7% to t. In January, Xstrata Copper announced plans to double the Horne smelter s capacity to process electronic scrap from t/y to t/y by Taseko Mines Limited completed Phase 1 of a mill expansion project at the Gibraltar mine in February. In a press release announcing its 2008 operating results, the company stated that, by the fourth quarter of 2008, the targeted daily concentrator throughput rate of t had been achieved and, by February 2009, operating costs had declined from US$2.00/lb to US$1.13/lb of copper. Taseko announced in December that it would proceed with Phase 2 of the expansion in 2009 under a modified 24-month operating plan that would target maintaining cash operating costs at US$1.15/lb or lower. The Phase 2 expansion will raise the concentrator s capacity to t/d. The company also announced that work towards a Phase 3 expansion to t/d has been deferred as a result of the credit market conditions and the copper market outlook. Capstone Mining Corporation achieved several operating and exploration milestones in the development of its 100%- owned Minto mine in the Yukon. In 2008, the company completed two expansions of the processing facilities, increasing milling capacity to 3200 t/d by the first quarter of A very successful drilling program has resulted in a 32% increase in contained copper in the estimated measured and indicated mineral resource estimate. Among the 2009 exploration results is the discovery of a high-grade copper-gold zone named Minto North located 600 m north-northwest of the current open-pit mine. As of June 2009, measured and indicated reserves at the Minto mine totaled 29 Mt grading 1.22% copper, 0.46% gold, and 4.4 g/t silver (at a 0.5% copper cut-off grade). Capstone is conducting a Phase 4 expansion study that would include considering an increase in mill throughput to the t/d range. MARKET REVIEW AND OUTLOOK Smelter Treatment and Refining Charges Long-term concentrate treatment and refining charges (TC/ RCs 2 ) fell further in 2008 as the deficit in the global concentrates production/consumption balance that emerged in 2006 persisted throughout Annual contract TC/RCs for 2008 deliveries under long-term contracts (c.i.f. Japan delivery basis) averaged US$45/t and 7.0 /lb, down from the 2007 average of US$60/t and 9.4 /lb. 2 TC/RCs are the amounts charged by smelters to miners to smelt copper concentrates and to produce refined copper. Treatment charges are expressed as a dollar amount per tonne of concentrate received. Refining charges are expressed as a dollar amount per pound of copper contained in the concentrate received. TC/RCs are deducted from the value of the metal in concentrates paid by the smelter to the miner.

5 COPPER 16.5 Average spot TC/RCs edged up slightly, but remained at historically low levels relative to the average yearly copper metal price. The average spot TC/RCs (c.i.f. Shanghai delivery basis) was US$36/t and 6.0 /lb for 2008, compared with US$26/t and 4 /lb in The concentrates market is expected to move from a deficit to a surplus position in 2009; consequently, a modest recovery in TC/RCs over 2009/2010 is forecast. Global Supply/Demand and Price Outlook The year-on-year percentage changes in world copper usage or demand over the period highlight one of the fundamentals underlying the declining trend in copper prices seen in the second half of Strong demand from China in 2006 and 2007 masked negative demand growth in Japan, the United States, and Europe, keeping stocks low and supporting prices. In 2008, Chinese demand slowed substantially compared to 2007 and demand weakened further in virtually every other major copper-consuming region. WORLD COPPER USAGE BY REGION/COUNTRY / /07 (000 tonnes) (% change) United States Other America Europe Japan China Other Asia Oceania Africa Total world World excluding China Source: International Copper Study Group, May 2008 bulletin, Tables 2 and 7. A supply/demand balance forecast for 2009 and 2010 released by the International Copper Study Group (ICSG) in April 2009 indicates that the world refined copper supply in 2008 grew by 1.7% as world copper demand declined by 1%, resulting in a modest surplus in refined copper of t, which is the first global refined copper surplus recorded since The ICSG forecasts a surplus in 2009 and Other analysts are forecasting more modest surpluses and/or a possible return to deficit beyond 2010 on the expectation that global demand for copper will accelerate and that supply growth will not keep pace in the near term. ACTUAL AND FORECAST WORLD COPPER SUPPLY AND DEMAND /07 09/08 10/09 (000 t) Mine production Refined production Copper usage Refined copper balance (1) Source: International Copper Study Group, forecast issued April 21, (1) Refined production minus copper usage. (% change year on year) What this trend means for the future direction of prices is extremely difficult to predict. There is a growing consensus that, since the start of the most recent price rally in mid- 2005, other factors beyond supply demand fundamentals are influencing copper prices, principal among these being the sustained interest in copper as an investment vehicle. Going forward, demand from China will continue to be the key driver. A surge in imports of refined copper into China pushed copper prices up by 70% between January 2 and June 10, This surge in demand for cathode from Chinese buyers could merely represent short-term re-stocking and a temporary substituting of cathode for scrap, supplies of which dried up in the latter part of 2008 as prices fell and new scrap volumes declined as the result of reduced industrial production. Should actual usage of copper in China fail to materialize over the balance of the year and Chinese demand slows in the absence of a rebound in demand growth in other major consuming regions, there is the potential for a dramatic decline in prices over the second half of Most analysts are forecasting declining prices in the second half of 2009 and an average price for the year of around US$1.60-$1.80/lb. Into 2010, the fundamentals of relatively low stocks, a recovery in demand, and a modest forecast growth in supply support a strengthening of prices back above the US$2.00/lb level. OTHER COPPER INFORMATION Applications Copper is used in many applications. Due to its high electrical conductivity, a primary application of copper is wire and cable used to carry power and signals. The high conductivity means good efficiency, and good corrosion resistance means that copper is a very good electrical conductor. High conductivity means a smaller cross-section for wires relative to other metals, which is important for small motors, hand tools, and crowded conduit spaces. However, in long-distance transmission lines, the heavier density of copper relative to conductivity means that aluminum is preferred to copper as the current-carrying metal for such lines. Copper also has a high thermal conductivity that makes it a leading competitor for heat exchangers such as automotive radiators and those used for solar heating. More information about the applications of copper can be found on the web sites of various copper development organizations. An extensive review of applications is available at Copper Use in Canada Canadian copper use is not surveyed on an annual basis. Apparent use can be calculated by adding the imports of refined copper to the reported domestic shipments of copper producers. For 2008, as noted in the Canadian data table on page 1 of this chapter, these data were t of

6 16.6 CANADIAN MINERALS YEARBOOK, 2008 refined imports plus t of producers domestic shipments. Other Information Sources on Copper Use in Canada The Canadian Copper & Brass Development Association (CCBDA) assists copper and copper alloy users on many matters, including technical information. Its web site contains technical information that can be ordered on-line for such topics as alloy castings, tubing, forgings, etc. Technical assistance and library services are also available. The membership includes both users and producers of copper. Companies making wire, tubes, rod, plumbing fixtures, castings, and forgings are among those that are members of the CCBDA. The Association s web site can be found at The Canadian Association of Recycling Industries is the national organization of recycling industries, of which metal recycling, and copper recycling in particular, is an important component. The Association represents companies through the entire chain of recycling from scrap collection to processing and utilization ( The Canadian Foundry Association (CFA), formed in 1975, is the national association of foundries in Canada. Its members include brass and bronze foundries. The CFA s web site, located at association.ca, contains a membership list with links to the members web sites (click on Member Profiles ). In addition, Industry Canada maintains a web site that allows searches for companies engaged in the semi-fabrication of metals and fabrication metals, including copper and copper alloys. The Canadian Company Capabilities (CCC) data base can be searched using terms such as copper, brass or bronze. The site is located at jsessionid=0000zh2rz9pblaepcfbnxx98sxz:1247nks53?prtl=1&lang=eng. Other Sources of Copper Information Much more information is available on copper supply, demand, and uses, as well as on the health and environmental aspects of copper. Good sources of information on production are the web sites of those companies that produce copper. Securities information is available from SEDAR, the System for Electronic Document Analysis and Retrieval (see Production, trade, and capacity data are published by the International Copper Study Group, a group that consists of 25 countries served by a secretariat in Lisbon, Portugal. Various publications are sold. The ICSG Copper Bulletin is a monthly publication. Yearly subscriptions are available. In addition, the ICSG sells a Directory of Copper Mines and Plants spanning a five-year period. Details of these and other publications are available at in the Publications section. The International Copper Association (ICA) maintains a web site, located at index4.shtml with information about: copper products: building products, consumer and electronic items, transportation, agriculture, industrial applications, and machinery and future applications; energy efficiency: air conditioners and refrigerators, copper bus bars, motors, power cables, solar energy, transformers, and case studies; health and nutrition: aquatic life, biological importance, copper deficiency, copper research, information flow project, drinking water, good health with copper, plant and animal health, pregnancy and infants, public health benefits, quick facts, and ICA research; environment: climate change mitigation, copper research, information flow project, energy conservation, natural presence, recycling, sustainability, and ICA research; and about copper: copper alloys, copper exchanges, copper markets, copper mining, and copper products. The U.S. Geological Survey (USGS) is another source of detailed information on the world copper industry. The copper information available includes yearly reviews, monthly articles, and an annual summary. The copper portal for the USGS is located at commodity/copper. Information about copper use is available from the International Wrought Copper Council (IWCC). The site, located at has links to member companies and organizations. A NOTE ON STATISTICS BASED ON PRODUCTION VS. SHIPMENTS Canadian statistics include a report of mine production (which is actually mill or concentrator production) that represents the total amount of copper produced in concentrates by Canadian mines. However, Canadian statistics also include a primary production figure, which is actually the total amount of copper contained in concentrates that is shipped from the mine site in a year. This measure of production is less widely used and is not consistent with the definitions used by the ICSG; Canadian mine production data are consistent with the ICSG definition. The preliminary estimate for 2008 shipments of copper in concentrates ( primary production ) was t, which is less than the over t of copper in concentrates reported as being produced in The production data are usually higher than shipments as production relates to

7 COPPER 16.7 the total content of copper in concentrates produced whereas the shipments data relate to the estimated recoverable copper in concentrates shipped. In certain instances, material produced at the end of one year may not be shipped until the next year, causing a further difference between the data series. Companies may show production data that report the total amount of copper contained in the concentrates produced in a year or the payable production may be shown. The latter reflects the amount of copper for which the mine is paid by the custom smelter. The deduction reflects the inability of the smelters to achieve 100% recoverability of the copper in the feed material. For some operations that report payable production, it is possible to calculate the production of copper contained if one knows the tonnage of ore processed, the copper grade of the material processed, and the recovery factor at the mill. Notes: (1) For definitions and valuation of mineral production, shipments and trade, please refer to Chapter 58. (2) Information in this review was current as of June 10, Some information on developments related to Canadian projects that occurred in 2009 has been included. (3) Various Internet sites have been identified in this article. Please note that Natural Resources Canada has no control over the content of the web sites of other organizations, which may be modified, updated or deleted at any time. (4) This and other reviews, including previous editions, are available on the Internet at gc.ca/mms-smm/busi-indu/cmy-amc/com-eng.htm. NOTE TO READERS The intent of this document is to provide general information and to elicit discussion. It is not intended as a reference, guide or suggestion to be used in trading, investment, or other commercial activities. The author and Natural Resources Canada make no warranty of any kind with respect to the content and accept no liability, either incidental, consequential, financial or otherwise, arising from the use of this document.

8 16.8 CANADIAN MINERALS YEARBOOK, 2008 TARIFFS Canada United States EU Japan Description MFN GPT USA Canada Conventional Rate (1) WTO (2) Copper ores and concentrates Free Free Free Free Free Free Nickel ores and concentrates Free Free Free Free Free Free Lead ores and concentrates Free Free Free Free Free Free Zinc ores and concentrates Free Free Free Free Free Free Precious metal ores and concentrates: silver ores and concentrates Slag, ash and residues (other than from the manufacture of iron or steel) containing metals, arsenic or their compounds: containing mainly copper Hydrazine and hydroxylamine and their inorganic salts; other inorganic bases; other metal oxides, hydroxides and peroxides: copper oxides and hydroxides Sulphates; alums; peroxosulphates (persulphates): other sulphates: of copper Carbonates; peroxocarbonates (percarbonates); commercial ammonium carbonate containing ammonium carbamate: other: other Cyanides, cyanide oxides and complex cyanides: cyanides and cyanide oxides: other Pigments (including metallic powders and flakes) dispersed in non-aqueous media, in liquid or paste form, of a kind used in the manufacture of paints (including enamels); stamping foils; dyes and other colouring matter put up in forms or packings for retail sale: other Copper mattes; cement copper (precipitated copper) Unrefined copper; copper anodes for electrolytic refining Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free 3.2% 4.8% Free-5.5% Free Free Free 3.2% 3.9% 3.5%-Free 3%-Free Free Free % 3.3% Free Free Free Free 5.5% 3.3% Free-3% Free Free Free 6.5% % Free Free Free Free Free Free Free Free Free Free Free Free-3% Refined copper and copper alloys, unwrought Refined copper: cathodes and sections of Free Free Free Free Free Free-3% cathodes Refined copper: wire-bars Free Free Free Free Free Free-3% Refined copper: billets Free Free Free Free Free Free-3% Refined copper: other Free Free Free Free Free Free-3% Copper alloys: copper-zinc base alloys (brass) Free Free Free Free Free Free Copper alloys: copper-tin base alloys (bronze) Free Free Free Free Free Free-3% Copper alloys: other copper alloys (other than master alloys of heading 74.05) Free Free Free Free Free Free-3% Copper waste and scrap Free Free Free Free Free Free Master alloys of copper Free Free Free Free Free 3% Copper powders and flakes: powders of nonlamellar structure Copper powders and flakes: powders of lamellar structure; flakes Free Free Free Free Free 3% Free Free Free Free Free 3% Copper bars, rods and profiles Of refined copper 2.5-3% Free Free Free 4.8% 3% Of copper alloys: of copper-zinc base alloys Free-2% Free Free Free 4.8% 3% Of copper alloys: other 2-3% Free Free Free 4.8% 3% Copper wire Of refined copper: of which the maximum crosssectional Free-3% Free Free Free 4.8% 3% dimersion exceeds 6 mm Of refined copper: other 3% Free Free Free 4.8% 3% Of copper alloys: of copper-zinc base alloys Free-3% Free Free Free 4.8% 3% (brass) Of copper alloys: of copper-nickel base alloys 2.5-3% Free Free Free 4.8% 3% (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) Of copper alloys: other 2.5-3% Free Free Free 4.8% 3%

9 COPPER 16.9 TARIFFS (cont'd) Canada United States EU Japan Description MFN GPT USA Canada Conventional Rate (1) WTO (2) Copper plates, sheets and strip, of a thickness exceeding 0.15 mm Of refined copper: in coils Free Free Free Free 4.8% 3% Of refined copper: other Free Free Free Free 4.8% 3% Of copper-zinc base alloys (brass): in coils Free Free Free Free 4.8% 3% Of copper-zinc base alloys (brass): other Free Free Free Free 4.8% 3% Of copper-tin base alloys (bronze): in coils Free Free Free Free 4.8% 3% Of copper-tin base alloys (bronze): other Free Free Free Free 4.8% 3% Of copper-nickel base alloys (cupro-nickel) or Free Free Free Free 4.8% 3% copper-nickel-zinc base alloys (nickel-silver) Of other copper alloys Free Free Free Free 4.8% 3% Copper foil (whether or not printed or backed with paper, paperboard, plastics or similar backing materials), of a thickness (excluding any backing) not exceeding 0.15 mm Not backed: of refined copper Free Free Free Free 5.2% 3% Not backed: of copper alloys Free Free Free Free 5.2% 3% Backed: of refined copper Free Free Free Free 5.2% 3% Backed: of copper alloys Free Free Free Free 5.2% 3% Copper tubes and pipes Of refined copper 2.5% Free Free Free 4.8% 3% Of copper alloys: of copper-zinc base alloys 2% Free Free Free 4.8% 3% (brass) Of copper alloys: of copper-nickel base alloys 2.5% Free Free Free 4.8% 3% (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) Of copper alloys: other 2.5% Free Free Free 4.8% 3% Copper tube or pipe fittings (for example, couplings, elbows, sleeves) Of refined copper 3% Free Free Free 5.2% Free Of copper alloys 3% Free Free Free 5.2% Free Stranded wire, cables, plaited bands and the like, of copper, not electrically insulated 3% Free Free Free 5.2% 3% Nails, tacks, drawing pins, staples (other than those of heading 83.05) and similar articles, of copper or of iron or steel with heads of copper; screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of copper Nails and tacks, drawing pins staples and similar 2.5% Free Free Free 4% Free articles Other articles, not threaded: washers (including 3% Free Free Free 3% Free spring washers) Other articles, not threaded: other 3% Free Free Free 3% Free Other threaded articles: screws; bolts and nuts Free-3% Free Free Free 3% Free Other threaded articles: other 3% Free Free Free 3% Free Table, kitchen or other household articles and parts thereof, of copper; pot scourers and scouring or polishing pads, gloves and the like of copper; sanitary ware and parts thereof, of copper Pot scourers and scouring or polishing pads, 3% Free Free Free 3% Free gloves and the like Other 3% Free Free Free 3-4% Free Sanitary ware and parts thereof 3% Free Free Free 3% Free Other articles of copper Chain and parts thereof 3% Free Free Free 3% Free Other: cast, moulded, stamped or forged, but not Free-3% Free Free Free 3% Free further worked Other: other Free-9.5% Free-5% Free Free 3-4.3% Free Sources: Canadian Customs Tariff, effective January 2009, Canada Border Services Agency; Harmonized Tariff Schedule of the United States, 2009; Official Journal of the European Union (Tariff Information), September 19, 2008 edition; Customs Tariff Schedules of Japan, (1) The customs duties applicable to imported goods originating in countries that are Contracting Parties to the General Agreement on Tariffs and Trade or with which the European Community has concluded agreements containing the most-favoured-nation tariff clause shall be the conventional duties shown in column 3 of the Schedule of Duties. (2) WTO rate is shown; lower tariff rates may apply circumstantially.

10 16.10 CANADIAN MINERALS YEARBOOK, 2008 TABLE 1. CANADA, COPPER TRADE, MINE PRODUCTION (1) SHIPMENTS (2) Newfoundland and Labrador New Brunswick Quebec Ontario Manitoba Saskatchewan British Columbia Yukon Total Refined EXPORTS Copper ores and concentrates Japan Germany China South Korea United States Philippines Sweden Spain India Finland Other countries Total , Silver ores and concentrates , Copper content , Sweden Finland Germany Belgium Other countries Total Copper ash and residues United States Copper oxides and hydroxides United Arab Emirates United States Total Copper sulphates United States United Arab Emirates Mexico South Korea Philippines Other countries Total Copper mattes; cement copper (precipitated copper) Norway Australia United States Total

11 COPPER TABLE 1 (cont'd) EXPORTS (cont'd) Copper mattes Norway United States Total Copper anodes United States Other countries Total and Refined copper and copper alloys, unwrought; refined copper United States Italy Germany Taiwan Mexico Other countries Total and Refined copper and copper alloys, unwrought; other copper alloys United States India Mexico Other countries Total Copper waste and scrap China United States South Korea Belgium Thailand Taiwan India Japan Hong Kong Philippines Spain Malaysia Vietnam Other countries Total Master alloys of copper United States Other countries Total and Copper powders and flakes Japan Taiwan United States Other countries Total

12 16.12 CANADIAN MINERALS YEARBOOK, 2008 TABLE 1 (cont'd) EXPORTS (cont'd) and Copper bars, rods and profiles of refined copper and copper alloys United States Cuba Germany 6 72 Poland Indonesia India Other countries Total and Copper wire of refined copper and of copper alloys United States Colombia Saudi Arabia Trinidad and Tobago Cuba Dominican Republic Jordan Kuwait Jamaica Brazil New Zealand Barbados China Iran United Arab Emirates Other countries Total and Copper and copper alloy plates, sheets, strip and foil Hong Kong United Kingdom Taiwan Mexico Russia Poland Other countries Total and Copper and copper alloy tubes and pipes United States United Kingdom China Singapore India Cuba Australia Hong Kong Panama Saudi Arabia Other countries Total

13 COPPER TABLE 1 (cont'd) (n.a.) ($000) (n.a.) ($000) (n.a.) ($000) EXPORTS (cont'd) and Copper and copper alloy tubes and pipe fittings (e.g., couplings, elbows, sleeves) United States South Africa United Arab Emirates Russia Mexico Other countries Total Stranded wire, cables, plaited bands and the like, of copper, not electrically insulated United States Mexico Australia France Trinidad and Tobago Other countries Total (n.a.) ($000) (n.a.) ($000) (n.a.) ($000) 7414, 7415, Other items of copper 7416, 7419 United States Germany Mexico Kuwait China Singapore Austria United Arab Emirates United Kingdom France Italy Nicaragua Hong Kong Cuba Other countries Total Total exports IMPORTS (3) Copper ores and concentrates Copper content United States Peru Chile Bulgaria Zimbabwe Philippines Germany Other countries Total

14 16.14 CANADIAN MINERALS YEARBOOK, 2008 TABLE 1 (cont'd) IMPORTS (cont'd) , Other ores and concentrates , Copper content , United States South Africa Other countries Total Copper ash and residues United States Australia Germany Taiwan Other countries Total and Copper oxides and hydroxides United States Other countries Total Copper sulphates Russia Chile China United States Taiwan Peru Uzbekistan Austria Netherlands Mexico Finland Australia France Other countries Total Copper carbonates United States Other copper carbonates United States Other countries Total Copper cyanides United States South Korea Other countries Total Pigments based on copper or copper alloy powders and flakes United States Germany Other countries Total Copper mattes United States China 1 1 Total

15 COPPER TABLE 1 (cont'd) IMPORTS (cont'd) Cement copper (precipitated copper) Argentina United States Other countries Total Copper mattes China United States Total Copper mattes; cement copper (precipitated copper) Bolivia China 1 1 Peru United States Total to Copper anodes Chile United States Belgium Other countries Total to Refined copper and copper alloys, unwrought; refined copper United States Chile Germany Austria Japan Other countries Total to Refined copper and copper alloys, unwrought; copper alloys United States China Netherlands United Kingdom Other countries Total Copper waste and scrap United States Cuba Mexico Taiwan China Canada Chile Panama Other countries Total

16 16.16 CANADIAN MINERALS YEARBOOK, 2008 TABLE 1 (cont'd) IMPORTS (cont'd) Master alloys of copper United States China United Kingdom Other countries Total and Copper powders and flakes United States France Italy Other countries Total and Copper bars, rods and profiles of refined copper and copper alloys United States South Korea China India Germany Mexico France Peru United Kingdom New Zealand Bulgaria Italy Poland Israel Switzerland Brazil South Africa Netherlands Finland Taiwan Turkey Other countires Total and Copper wire of refined copper and of copper alloys United States Germany Mexico South Korea France Malaysia United Kingdom China Japan Taiwan Peru Canada Other countries Total

17 COPPER TABLE 1 (cont'd) IMPORTS (cont'd) and Copper and copper alloy plates, sheets, strip and foil United States Germany Netherlands Japan India Luxembourg Sweden Bulgaria China Taiwan Spain Greece Chile New Zealand South Korea Mexico Serbia Italy Finland Peru United Kingdom Other countries Total Pipes and tubes, refined copper United States China Chile Malaysia South Korea Mexico France Germany Other countries Total Pipes and tubes, copper-zinc base alloys China United States Mexico Germany Serbia United Kingdom Chile South Korea Other countries Total Pipes and tubes, copper-nickel base alloys or copper-nickel-zinc base alloys United States China Mexico Germany South Korea Other countries Total

18 16.18 CANADIAN MINERALS YEARBOOK, 2008 TABLE 1 (cont'd) IMPORTS (cont'd) Plates and tubes, copper alloys, n.e.s. United States China Italy Mexico South Korea Other countries Total Fittings, pipe or tube, of refined copper United States South Korea China Brazil Germany Taiwan Other countries Total Fittings, pipe or tube, copper alloys United States China Taiwan Germany South Korea Indonesia Italy Australia Mexico Thailand Japan India Netherlands Israel United Kingdom Canada France Other countries Total Stranded wire, cables, plaited bands and the like, of copper, not electrically insulated United States Germany Canada Israel China Other countries Total (n.a.) ($000) (n.a.) ($000) (n.a.) ($000) Endless bands of copper wire for machinery United States United Kingdom.. 84 Total.. 192